H.R.5745 - End Polluter Welfare Act of 2012112th Congress (2011-2012)
|Sponsor:||Rep. Ellison, Keith [D-MN-5] (Introduced 05/15/2012)|
|Committees:||House - Ways and Means; Transportation and Infrastructure; Natural Resources; Science, Space, and Technology; Energy and Commerce; Agriculture; Appropriations; Financial Services; Foreign Affairs|
|Latest Action:||House - 07/11/2012 Referred to the Subcommittee on International Monetary Policy and Trade. (All Actions)|
This bill has the status Introduced
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Summary: H.R.5745 — 112th Congress (2011-2012)All Information (Except Text)
Introduced in House (05/15/2012)
End Polluter Welfare Act of 2012 - Amends the Outer Continental Shelf Lands Act and the Energy Policy Act of 2005 to repeal the authority of the Secretary of the Interior to reduce or eliminate royalty payments for oil and natural gas leases in the Outer Continental Shelf.
Amends the Mineral Leasing Act to increase minimum royalty payments for coal, oil, and natural gas leases.
Repeals the program for ultra-deepwater and unconventional natural gas and other petroleum resource exploration and production.
Amends the Oil Pollution Act to eliminate the limitation on liability for offshore facilities and pipeline operators for oil spills.
Rescinds all unobligated balances made available to the World Bank, the Overseas Private Investment Corporation (OPIC), the Export-Import Bank, the Advanced Research Projects Agency in the Department of Defense (DOD), and other international financing entities to carry out any project that supports coal, oil, or natural gas.
Terminates the Office of Fossil Energy Research and Development in the Department of Energy (DOE) and the authority to carry out any of its programs.
Amends the Energy Policy Act of 2005 to eliminate from the categories of projects eligible for loan guarantees for innovative technologies: (1) projects involving advanced fossil energy technology, and (2) and crude oil refineries.
Prohibits the Secretary of Agriculture from making loans under the Rural Electrification Act of 1936 to carry out projects that will use coal, oil, or natural gas.
Prohibits the use of Department of Transportation (DOT) funds to award any grant or other direct assistance to any rail or port project that transports coal, oil, or natural gas.
Amends the Internal Revenue Code to limit or repeal provisions allowing tax incentives for investment in fossil fuels.
Increases the Oil Spill Liability Trust Fund financing rate.
Imposes a 13% tax on the removal price of any taxable crude oil or natural gas from the Outer Continental Shelf in the Gulf of Mexico.Designates the Powder River Basin in southeast Montana and northeast Wyoming as a coal producing region.
Eliminates accelerated depreciation for property that is receiving a subsidy for fossil fuel production.